NEW YORK (GenomeWeb News) – Proteome Sciences today announced a conditional placement of nearly 17.9 million new ordinary shares in order to raise £5 million ($8.3 million).

The UK-based firm said it has conditionally placed the shares of ₤.01 each to raise the funds with new and existing investors at ₤.28 per share. Proteome Sciences Chief Executive Christopher Pearce has subscribed for about 3.6 million shares at the placing price, and following the transaction he will hold 35.1 million, or a little more than 16 percent, of the firm's enlarged share capital.

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